How to Operate Your Trust

Martin M. Shenkman (Attorney at Law, Paramus, NJ) recently published his article entitled Ode to the Trust – 2nd Sonata, Wealth Strategies Journal, Aug. 30, 2011. The summary of the article is below:

Here’s part two of the exciting, can’t catch your breath topic, how to operate your trusts. Many folks seem to think if they’ve signed a trust they’ve done the deed, but as the Carpenter’s song goes: “We’ve only just begun.” Just like a good golf swing, follow through is essential to achieve any of your personal, tax, legal or other objectives. The second part of this article highlights a few of the myriad of matters to address. If you don’t heed the follow up warning, you’ll be relying on the line from the Carpenter’s song: “A kiss for luck and you’re on your way,” when the IRS or a claimant come’s a’knockin. Your estate planner will be singing the Buddy Holly words back at ya: “Don’t come back knockin’ at my offices’ closed door.”